Sale of PMC Bond now open to legal entities |28 February 2020

The five-year Bond for the Property Management Corporation (PMC) being guaranteed by government and administered by the Central Bank of Seychelles (CBS) is now open for sale to legal entities.

The Bond worth R200 million was issued on January 27, 2020. For the first 30 days, applications were being accepted from individuals only. The 30-day period was reached on Tuesday February 25, 2020.

The CBS has received a total of 99 applications from individuals for a total value of R9,506,000.

The unsubscribed amount of R190,494,000 is now available to all investors, including legal entities, which include commercial banks, corporate bodies, institutions, clubs, societies and other organisations, as well as individuals.

Application forms are available at the Financial Markets Division (FMD) of the CBS and can also be downloaded from the CBS website (www.cbs.sc). Completed forms can be submitted via email to fmd@cbs.sc or hand delivered to the FMD during working hours.

The Bond being issued in multiples of R1,000 with a minimum value of R1,000 is being sold on a first-come first-served basis, until the limit of issue has been reached.

As previously announced, the five-year PMC Bond will earn a fixed interest rate of 5% per annum. Interests will be paid half-yearly on May 20 and November 20, and calculated on a 365-day year.

Press release from CBS